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Celltrion’s target price has increased.
Celltrion is expected to increase sales in 2021 with synergy with Corona 19 treatment products and diagnostic kit.
▲ Seo Jeong-jin, president of Celltrion.
Heo Hye-min, a researcher at Kiwoom Securities, raised Celltrion’s target price from 350,000 won to 360,000 won. We have kept our BUY rating.
On the 9th, Celltrion’s share price closed at 285,000 won.
Researcher Huh predicted, “Celltrion is expected to announce interim results data for Corona 19 treatment later this year and get approval for emergency use in Korea in Q1 2021.”
Celltrion’s COVID-19 treatment was designed for clinical and mild trials and has been evaluated with a high probability of success.
Celltrion is expected to create synergy with Corona 19 treatment as it has a Corona 19 diagnostic kit. This is because it can form a product portfolio of early treatment regimens after Corona 19 is diagnosed.
Celltrion’s new drug candidates (pipeline) are expected to become more diversified starting in 2021.
The highly concentrated autoimmune disease treatment ‘Humira’ is expected to gain marketing approval in Europe in the first quarter of 2021.
From 2022, the biosimilar “CT-P16” of the treatment of colorectal cancer “Avastin”, the biosimilar “CT-P39” of the treatment of allergic asthma and chronic urticaria “Zolere” and the bio of the treatment of diseases autoimmune “Stellara” The development of “CT-P43”, a simulator, and “CT-P41”, a biosimilar for the treatment of osteoporosis “Prolia” is planned.
Researcher Huh said: “With the European approval of Humira in 2021, new sales could arise.” “As sales from the additional supply of Corona 19 diagnostic kits and sales of Corona 19 treatments may rise, we can further increase earnings.” I saw.
Celltrion is expected to generate KRW 1,853.6 trillion in sales and KRW 7434 billion in operating profit on a consolidated basis in 2020. Compared to 2019, sales increased by 64% and operating profit by 97%, respectively. [비즈니스포스트 조승리 기자]
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